Posted January 7, 2015
U.S. Trade Gap Narrows to $39 Billion in November
Wall Street Journal: The U.S. trade gap narrowed in November to its lowest level in nearly a year, reflecting gyrations in the oil market that mask strong underlying domestic demand for foreign goods.
The trade deficit fell 7.7% to a seasonally adjusted $39 billion in November from the prior month’s deficit of $42.25 billion, the Commerce Department said Wednesday. The reading marks the smallest deficit since December 2013. October’s deficit was revised from an initially reported $43.43 billion.
The narrower trade gap could support fourth-quarter economic growth. Barclays lifted it forecast fourth-quarter gross domestic product forecast to a 3.5% gain from a 2.7% advance following the trade report. Credit Suisse moved its estimate to a 3.2% advance from 2.9%.
Read more: http://on.wsj.com/1ByUVBH
More industry news:
A New Year, a New Opportunity for Liquefied Natural Gas Exports: http://bit.ly/1zUrCoW
Oil Lobby Sets Sights on Export Ban: http://bit.ly/1AFw6nI
Keystone XL Veto Threat Sets Early Tone for Obama-Congress Relationship: http://washex.am/1HOjyfP
Despite Plunging Oil Prices, Gulf on Brink of Boom: http://usat.ly/1ByVXhf
Blog: Marcellus Shale Equals Economic Growth: http://bit.ly/1xSiG8y
In case you missed API’s annual State of American Energy, here’s some coverage:
API Chief Optimistic about Industry’s Future Amid Price Decline: http://bit.ly/1yAuAUo
Trade Association Leader Urges Changes to U.S. Oil, Gas Regulations: http://bit.ly/1yAvpfY
Oil and Gas Industry Creating New Age of Abundance: http://bit.ly/1DyhZzX
Oil Group CEO: Amid Price Drop, U.S. Set to Be Global Leader: http://bit.ly/1yAwiFf
Gerard: Right Energy Policy Needed to Sustain Growth in Energy: http://bit.ly/1xSF8hU
ABOUT THE AUTHOR
Mary Schaper is a Digital Communications Manager for the American Petroleum Institute. She previously worked on Capitol Hill for the Senate Energy and Natural Resources Committee as Digital Director and for Senator Lisa Murkowski. Before coming to D.C., she spearheaded digital strategy for Murkowski's successful Senate write-in campaign in 2010. Schaper enjoys traveling and taking in the local culture alongside her husband, their son and loyal springer spaniel.